The numbers: Existing-home sales increased for the fourth consecutive month in September, as the U.S. housing market benefitted from low interest rates. Total existing-home sales rose 9.4% from August to a seasonally-adjusted, annual rate of 6.54 million, the National Association of Realtors reported Thursday. Compared with a year ago, home sales were up nearly 21%. “Home sales […]
The Strong Housing Market Continues At Record Pace!
With low inventory and extremely strong demand, the Expected Market Time is at its lowest level to start October since tracking began in 2004. The expected market time for all of Orange County is at 38 days which is a Hot Sellers Market. It was 86 days last year at this time. Buyers: Affordability has improved with record low interest […]
Are Prices High because Rates are Low?
Why Are Home Prices Rising So High? Blame Record-Low Mortgage Rates. When the coronavirus pandemic gutted the strongest U.S. economy, many assumed another recession would bring rock-bottom home prices along with it. Instead, home prices defied logical assumptions—and soared to new heights. Paradoxically enough, one of the biggest drivers of the double-digit price hikes is […]
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